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Elaboration (2) ACHEK031

predicting changes to work in the future and possible outcomes (for example, ‘What could be the effect of a changing attitude to work–life balance or the decline of some industries?’)

interpreting tables, charts and graphs containing economic or business data to identify trends (for example, to answer the question: ‘To what extent has the number of people in casual work increased?’)

Elaboration (2) ACHEK030

exploring different external factors that influence business opportunities, such as government and government policy, competitors in the market, demographics, technological innovations in production processes and product design, economic conditions, globalisation, …

Elaboration (2) ACHEK018

explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making

Elaboration (2) ACHEK027

explaining how the interaction between buyers and sellers influences prices and how markets enable the distribution and allocation of resources (that is, how do businesses answer the questions of what to produce, how to produce and for whom to produc …

Elaboration (2) ACHES057

explaining relationships identified in data (for example, the relationship between standards of living, infant mortality and access to health services)

Elaboration (2) ACHES037

using economics and business terms and concepts such as interdependence, market economy, market system, price setting, outsourcing, business ownership, rights and responsibilities

Elaboration (2) ACHES048

using economics and business terms and concepts such as interdependence, trade, comparative advantage, globalisation, supply chain, insurance, savings buffer, intrapreneur, competitive advantage, costs, benefits

Elaboration (2) ACHEK051

investigating economic performance and living standards and discussing how they can mean different things to different people and countries

Elaboration (2) ACHES044

explaining assumptions or missing information in sources that may affect the reliability of an opinion about the issue

Elaboration (2) ACHES060

developing texts for different audiences such as peers, businesses, the public, a business manager/entrepreneur, and for different purposes (for example, to persuade or inform)

Elaboration (2) ACHEK020

investigating alternative sources of income such as through owning a business, being a shareholder, providing a rental service

Elaboration (2) ACHES025

identifying links between entrepreneurial behaviour and successful businesses

Elaboration (2) ACHEK038

identifying Australia’s major trading partners in the Asia region and the items of trade

Elaboration (2) ACHEK039

examining the implications of participating in an interdependent global economy for consumers, workers, businesses and government (for example, mapping the global supply chain for a product to identify the advantages and disadvantages for participants …

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